The Ward Company Has Provided the Following Information

question 3

Multiple Choice

The Ward Company has provided the following information:
Net sales totaled $750,000.
Beginning net accounts receivable was $65,000.
Ending net accounts receivable was $85,000.
What was Ward's receivable turnover ratio?

• A)10.0
• B)8.8
• C)11.54
• D)5.0

---

Definitions:

Statistical Error

The difference between a measured or observed value and the true value, often arising from sampling or measurement limitations.

Random Factors

Variables in an experiment that are randomly varied to assess their incidental effects on the outcome, as opposed to systematically manipulated factors.

Gold Medal

An award for the first-place finisher in a competition, often used in the context of the Olympic Games.

Addition Rule

In probability, a rule that determines the likelihood of the occurrence of one event or another, assuming the events are mutually exclusive.